LA Times - "Would-Be Home Sellers Settle In Rather Than Cut Prices Further" (10-13-06)

"A Southland pullout eases the supply glut, relieving pressure on remaining sellers."

"Southern California home prices rose last month at their slowest pace in nearly a decade and sales continued to plunge, according to data released Thursday. That helped prompt an increasing number of frustrated sellers to follow what Jose Morales just did: pull their homes off the market."

"After 90 days, four price reductions and a couple of low-ball offers, Morales withdrew his three-bedroom Riverside bungalow rather than cut his $415,000 asking price, already down from an original $486,000."